What’s behind Target’s Stellar Traffic Growth in Q1 2018?
Target (TGT) sustained its sales momentum in the fiscal first quarter. Target’s total sales of $16.8 billion exceeded analysts’ expectation of $16.6 billion and increased 3.4% YoY (year-over-year) due to improving comps. Target’s comparable store sales or comps grew 3.0% in the fiscal first quarter, which reflected 3.7% growth in traffic—the highest in the past ten years.